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Chipmaker stocks plummet amid more warnings about slowing demand
Semiconductors stocks tumbled after Micron Technology Inc. became the latest chipmaker to warn about slowing demand, triggering concern the industry is heading into a painful downturn.
In the US, the Philadelphia semiconductor index sank 4.6% on Tuesday with all 30 members in the red, its biggest fall in about two months. In Asia, chip stocks from Taiwan Semiconductor Manufacturing Co. to Samsung Electronics Co., SK Hynix Inc. and Tokyo Electron Ltd. slumped.
[Bloomberg]
Semiconductors stocks tumbled after Micron Technology Inc. became the latest chipmaker to warn about slowing demand, triggering concern the industry is heading into a painful downturn.
In the US, the Philadelphia semiconductor index sank 4.6% on Tuesday with all 30 members in the red, its biggest fall in about two months. In Asia, chip stocks from Taiwan Semiconductor Manufacturing Co. to Samsung Electronics Co., SK Hynix Inc. and Tokyo Electron Ltd. slumped.
[Bloomberg]